Transrail Lighting Ltd
Incorporated in 2008, Transrail Lighting Ltd
is an integrated transmission & distribution,
and pole manufacturing company[1]
- Market Cap ₹ 8,388 Cr.
- Current Price ₹ 625
- High / Low ₹ 856 / 375
- Stock P/E 20.1
- Book Value ₹ 154
- Dividend Yield 0.13 %
- ROCE 35.2 %
- ROE 21.6 %
- Face Value ₹ 2.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 26.6% CAGR over last 5 years
Cons
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 1,881 | 2,172 | 2,284 | 3,152 | 4,077 | 5,308 | 6,524 | |
| 1,603 | 1,888 | 2,091 | 2,788 | 3,518 | 4,532 | 5,726 | |
| Operating Profit | 278 | 284 | 194 | 364 | 559 | 776 | 798 |
| OPM % | 15% | 13% | 8% | 12% | 14% | 15% | 12% |
| 22 | 19 | 73 | 19 | 56 | 48 | 54 | |
| Interest | 146 | 138 | 139 | 189 | 246 | 300 | 218 |
| Depreciation | 32 | 34 | 38 | 46 | 50 | 56 | 60 |
| Profit before tax | 121 | 132 | 90 | 148 | 318 | 467 | 575 |
| Tax % | 15% | 25% | 28% | 27% | 27% | 30% | |
| 102 | 98 | 65 | 108 | 233 | 327 | 417 | |
| EPS in Rs | 242.83 | 129.70 | 28.50 | 47.18 | 18.81 | 24.33 | 31.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 8% | 3% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 32% |
| TTM: | 54% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 71% |
| TTM: | 63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 21% |
| Last Year: | 22% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 8 | 23 | 23 | 25 | 27 | 27 |
| Reserves | 435 | 560 | 640 | 749 | 1,114 | 1,854 | 2,044 |
| 346 | 429 | 477 | 621 | 667 | 661 | 810 | |
| 1,253 | 1,185 | 1,702 | 2,053 | 2,814 | 3,691 | 3,887 | |
| Total Liabilities | 2,038 | 2,182 | 2,842 | 3,445 | 4,621 | 6,233 | 6,767 |
| 321 | 317 | 334 | 379 | 374 | 425 | 492 | |
| CWIP | 11 | 4 | 17 | 4 | 6 | 12 | 47 |
| Investments | 0 | 3 | 3 | 3 | 5 | 0 | 1 |
| 1,705 | 1,858 | 2,487 | 3,059 | 4,236 | 5,795 | 6,228 | |
| Total Assets | 2,038 | 2,182 | 2,842 | 3,445 | 4,621 | 6,233 | 6,767 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 188 | 65 | 50 | 143 | 35 | 287 | |
| -50 | -3 | -81 | -105 | -78 | -498 | |
| -146 | 5 | -0 | 29 | 28 | 242 | |
| Net Cash Flow | -7 | 66 | -32 | 67 | -15 | 32 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 93 | 82 | 102 | 75 | 92 | 91 |
| Inventory Days | 107 | 80 | 86 | 63 | 62 | 77 |
| Days Payable | 316 | 292 | 329 | 263 | 274 | 332 |
| Cash Conversion Cycle | -116 | -129 | -141 | -126 | -120 | -165 |
| Working Capital Days | 28 | 33 | 45 | 30 | 52 | 48 |
| ROCE % | 30% | 21% | 27% | 35% | 35% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
3h - Submission of newspaper publication for Unaudited Financial Results for the quarter and half year ended 30th September, 2025
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
21h - Posted audio of Transrail Lighting Q2/H1 FY26 earnings call held 12-Nov-2025; link provided.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
1d - Presentation on Earnings call for Un-audited Financial Results for quarter and half year ended 30th September, 2025
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Q2 revenue ₹1,561Cr (+43%), H1 revenue ₹3,221Cr (+61%); H1 PAT ₹197Cr; UEOB ₹17,799Cr; CRISIL AA-.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
1d - CARE monitoring report: Rs450 crore issue—Rs352.36 crore utilized, Rs97.64 crore unutilised; implementation delayed.
Concalls
-
Nov 2025TranscriptNotesPPT
-
Aug 2025Transcript PPT REC
-
May 2025Transcript PPT REC
-
Feb 2025Transcript PPT REC
Business Overview:[1][2]
TRLL is an ISO 9001:2015, ISO 14001:2015, ISO 27001:13, ISO 45001:2018, CE and NABL certified organization with manufacturing facilities for lattice structures, conductors, and monopoles